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Figuring out the McLean Real Estate Market – August 2009

September 15, 2009 By Doug Francis

mclean redfinThere have been some impressive claims about the real estate market in August, but there is a sharp dividing line between McLean 22101 and 22102. Yes, 22101 saw some good real estate sales numbers. The strength of the McLean home market is its strategic location keeping this area in demand since access to D.C., Tyson’s, Arlington plus Dulles and National Airports is excellent, but the price point still averages above $900k.

Numbers for 22101:

  • Total Units Sold in August 2009, 42 vs. 40 in 2008 (up 5.00%)
  • Average Sold Price in August 2009, $1,035,690 vs. $960,431 in 2008 (up 7.84%)
  • In the $700,000 to $799,999 range, 6 sold with 16 active listings
  • In the $800,000 to $899,999 range, 4 sold with 12 active listings
  • In the $900,000 to $999,999 range, 6 sold with 14 active listings
  • In the $1,000,000 to $2,499,999 range, 16 sold with 120 active listings
  • In the $2,500,000 to $4,999,999 range, 1 sold with 15 active listings
  • Average days on market in August 2009 was 93 vs. 105 in 2008
  • The average sold price in 2009 was 93.46% of the average list price

Numbers for 22102:

  • Total Units Sold in August 2009, 25 vs. 27 in 2008 (down 7.41%)
  • Average Sold Price in August 2009, $599,160 vs. $1,050,865 in 2008 (down 42.98%) **
  • In the $700,000 to $799,999 range, 1sold with 5 active listings
  • In the $800,000 to $899,999 range, 2 sold with 6 active listings
  • In the $900,000 to $999,999 range, 3 sold with 5 active listings
  • In the $1,000,000 to $2,499,999 range, 3 sold with 61 active listings
  • In the $2,500,000 to $4,999,999 range, 0 sold with 33 active listings
  • In the $5,000,000 & Over range, 0 sold with 8 active listings
  • Average days on market in July 2009 was 91 vs. 118 in 2008
  • The average sold price in 2009 was 90.51% of the average list price

**This zip code reflects some extremes in pricing as there were 14 sales under $500k and 3 sales over $1. million. The McLean home market includes condominiums in all price ranges.

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Filed Under: Blog Tagged With: buyer, McLean, MRIS, seller

About Doug Francis

A Realtor specializing in unique and new homes around Vienna, Virginia, Doug started writing a first-hand blog about his everyday real estate experiences a decade ago. In-depth, helpful and fun has always been the objective. Outside real estate, he was profiled in a commercial for Verisign's "Where the World Clicks" global ad campaign, and was quoted in Money Magazine's Best Places to Live article on Vienna (#3!). He's a Boston University graduate who feels morning coffee is non-negotiable.

Vienna real estate agent Doug Francis

Helping my clients add value to their homes has always been important to me. My step-by-step recommendations are intended to increase market appeal, return more than invested, and help net more when selling.

Beyond just sellers, I have helped many new homeowners make smart design decisions when remodeling. We gutted our house and totally remodeled it, and I pass that experience along because living in a nice house is simply better.

My background… I’ve been an active licensed agent in Virginia for 25 years, work at TTR Sotheby’s International Realty in McLean, and sell homes in all price ranges. I donate to the Town of Vienna tree replacement fund, participate in a neighborhood citizens association, and try my best to stay in shape.

Questions? Email doug@dougfrancis.com or call me at (703) 304-6827 to discuss your plans. Cheers!

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About Doug Francis

I am a Realtor with TTR Sotheby's International Realty® just outside Washington D.C. in Northern Virginia. I have been a full-time Realtor licensed in Virginia since 1991, and cover a big territory specializing in the Vienna real estate market and custom homes for sale.

I have unique knowledge of digital real estate marketing, and my marketing starts here. My clients have been attracted to my results-oriented strategy for years, and I am accepting new clients for 2023 right now.

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